The BRICS summit in South Africa: What do the member states want to achieve?
The BRICS summit, comprising major emerging economies, has commenced in Johannesburg, the primary economic city of South Africa.
During this summit, Chinese President Xi Jinping, Brazilian President Luiz Inácio Lula da Silva, South African President Cyril Ramaphosa, and Indian Prime Minister Narendra Modi convened, while Russian President Vladimir Putin participated via video conference.
BRICS member states are discussing the proposal of introducing a new currency
The three-day summit primarily focused on discussing the possibility of expanding the BRICS group. Putin justified his decision to cancel the grain agreement with Ukraine, attributing blame to the West and Kiev. Putin emphasized that he would not return to the agreement until all Russian demands are met.
On the other hand, the Chinese President delivered implicit criticisms directed at the United States, affirming that there is a nation seeking to preserve its hegemony and suppress both emerging and advanced countries.
For his part, the Brazilian President emphasized that the goal of the BRICS group is not to confront others, but rather to better organize the global South.
Ramaphosa, the President of South Africa, expressed his call for reforming global financial institutions, indicating that Western industrialized countries are the ones benefiting the most from the “protectionism” that hinders equitable growth in the global economy.
The BRICS group aims to expand and has come to be known as “BRICS Plus.” It seeks to add new members in order to counterbalance Western geopolitical and economic dominance.
So far, around 40 countries have shown interest in joining, including Argentina, Saudi Arabia, the United Arab Emirates, Algeria, Egypt, Iran, and Bangladesh.
While Putin enjoys full support from China regarding the Russian offensive against Ukraine, Brazil, India, and South Africa adopt more neutral stances.
While China is among the key proponents of expanding “BRICS Plus,” India approaches the matter cautiously, concerned about potentially losing its influence within the group due to the addition of countries aligned with China.
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